The Federal Reserve (the “Fed”) has announced further changes to its now $600 billion Main Street Lending Program. From the program’s initial construct, which seemed aimed at larger companies, minimum loan sizes have been...more
The Paycheck Protection Program (PPP) was originally funded with $349 billion, and Congress recently appropriated another $310 billion for the program. ...more
In FAQs: COVID-19 – Potential Impacts to Borrowers and Lenders, we noted that many borrowers likely would at least consider fully drawing down their revolving lines of credit now even if they did not yet have an immediate...more
The COVID-19 outbreak that is inducing intense volatility in global financial markets and dramatically impacting operations and revenues in numerous industries around the world raises several questions concerning the impacts...more